Utility systems, such as an electrical utility system, are monitored by a network of intelligent electronic devices (“IEDs”) coupled to a computer and/or server for monitoring various parameters or characteristics of the electrical utility system. The network of IEDs and the computer are typically referred to collectively as a power monitoring system. The power monitoring systems can include between one to several thousand networked IEDs communicatively coupled to the computer. Managing data generated in the IEDs presents data management issues, such as data storage within the IEDs and bandwidth for transmitting data from the IEDs to the computer. Depending on the frequency that data is logged by each of the networked IEDs, the demands on resources of the power monitoring system vary. Power monitoring systems that require IEDs with larger storage capacity and networks with larger bandwidth cost more to setup and maintain, which results in an overall higher total cost of ownership.
Thus, a need exists for an improved apparatus and method. The present invention is directed to satisfying one or more of these needs and solving other problems.